Deferred Income

  • Deferred income is used for sales documents where the invoice is created in advance of receiving the products or services.

  • Deferred income can be used on Sales invoices and Cash sales.

  • Deferred income can be automated, for more information please see Deferred income automation.

  • To use this feature, the Invoice type and the Chart of account must allow Deferred income.

    • To check Invoice type, go to Document types, go to Sale tab and tick Allow deferred/prepayment option.

    • To check Accounts, go to Chart of Accounts, go to Usage tab and tick the Deferred/prepayment option.

      Tip

      To go to one of the above options directly from the Sale invoice entry screen, hold down the Ctrl button, and then select either Invoice type or Account.

      This will task you directly to the appropriate document.

  • The finder will present all Deferred incomes that have been generated.

  • You can view the lines associated with the deferred income by double clicking a deferred income in the finder.

How to use Deferred income

  1. Following the User Guides for Create a Sales Invoice in Sales Invoice or Create a Sales Order in Sales Order.

    Note

    The invoice type selected must allow for Deferred income - see notes above.

  2. At step 8, add a Line, selecting a Product that allows Deferred income - see notes above.

  • If it's not already selected, tick the Deferred option on the Posting attributes line.

  • If not already populated, select the appropriate Distribution profile in the Profile option.

    Note

    The default value can be saved in Environment defaults.

  • The Date from will default, depending on what profile you enter e.g. if you enter English Quarter Day Q1, the Date from defaults to 25/12/YYYY.

  • The Periods and Date to fields are not always editable.

  1. Press Submit.

  2. The new Sales invoice or Sales order will now have a Deferred tab.

Selecting this tab will display two options -

  • Summary - this shows the Deferred income totals broken down over the total period. e.g. Even split over 12 months.

  • Detail - when the Deferred journals get created, the doc numbers appear in the Doc no column and these are linked to the SIN, as seen when selecting the link icon at the top right corner.


Updated February 2024